The club have stated that they expect the loss of Champions League football will see the club lose around £38m-£48m worth of income when the club publishes its accounts next September, compared to the amounts that they have posted this year.

With income for last season at £433m, this would see their total fall to between £385m and £395m.

Man Utd are now suffering the financial results of the sporting failures of last year, when a lack of investment in new manager David Moyes saw the club fall to a seventh place finish in the Premier League.

Moyes was replaced by Louis van Gaal this summer, but the Van Gaal era has also got off to a struggled start, with the club failing to win a single game thus far this season.